1. Invoice Notes
2. “How Can We Improve?” Calls
3. Open House / Party
4. The “Project Completion” (Or “Transaction Completion”) Thank You
Category: Small But Powerful Tips
Hidden Pricing Power
Donald V. Potter discusses many tips on pricing, in his classic article “Discovering Hidden Pricing Power”, published in “Business Horizons” magazine, during November, December 2000. His inputs to go beyond the standard rate cards, % discounting, fixed price and T&M models, so that you have the edge when trying to make that sale.
Here are some useful tips from this wonderful article:
- Bundle Benefits
- Unbundle Benefits
- Offer alternative service levels and price points
- Link Future Purchases to Current Transaction
- Understand the components of the cost better to keep cost and price moving together
- Shift some of the price to suppliers
- Set Prices Selectively, Not across the board
- Move Prices in Smaller Increments
- Raise Invisible Prices
- Match Price Moves to the Market
- Use Discounts strategically to build relationship with important clients
- Price Against The Leader (Price it down when leader is reluctant)
- Follow the leader (Move the prices up, if leader increases)
- Seek out new segments that tolerate high prices
Venkatesan Sundaram,
Senior Director, CRMIT
Be careful when you buy content for your website
I saw this interesting picture today in web. It shows how two insurance companies which are competitors to each other are using the same picture in their website. It is a small mistake, but looks ugly from an end user point of view and affects your online image.
(Image Courtesy: http://twitpic.com/8kzj03/full)
This is an important tip to remember, when you are choosing content for your website:
- If you are buying photographs from a person or an agency, make sure they are not selling it to somebody else, especially your competitor
- This may mean you are paying something extra for exclusive rights to use that picture, go ahead and pay it, this is a small price for your online image